Valley Oaks Golf Course UpdateAdministrationJune 5, 2023 1 Overview
2 Lease Agreement
3 Lease Agreement•Commenced on February 1, 2018•Twenty-year term lease•Includes Personal Property/Equipment•Restaurant•Grounds Maintenance•Golf •Repair and Maintenance•Capital4
Capital•Approx $775,000 deposited total
•Current $546,788.01 with in the trust5
ProjectExpenditureYearCourse Accessories$ 23,550.002018Bunker Renovation (Lakes)$ 34,640.972018Bunker Renovation (Valley Oaks)$ 52,163.512019Tee Leveling$ 73,580.002020Tree Maintenance$ 19,175.002020Safety Netting$ 29,700.002020$232,809.48 City Revenue•XXX
6 2018 2019 2020 2021 2022VOGC Revenue 2,421,811.63 2,428,779.36 2,766,421.65 3,774,302.15 4,066,336.48 Baseline 2,400,000.00 2,454,960.00 2,488,320.00 2,663,498.00 2,835,294.00 Difference 21,811.63 (26,180.64) 278,101.65 1,110,804.15 1,231,042.48 % Rent (15% of Difference) 3,271.74$ -$ 41,715.25$ 166,620.66$ 184,656.43$ Prior Year Baseline 2,400,000.00 2,454,960.00 2,488,320.00 2,663,498.00 CPI Rate2.3%1.36% 7.0% 6.45%New Baseline 2,454,960.00 2,488,320.00 2,663,498.00 2,835,294.00 CPI Baseline Increase 54,960.00 33,360.00 175,178.00 171,796.00 Base Rent 90,000.00 90,000.00 90,000.00 90,000.00 90,000.00 % Rent 3,271.74 - 41,715.25 166,620.66 184,656.43 Total City Revenue 93,271.74$ 90,000.00$ 131,715.25$ 256,620.66$ 274,656.43$ City Revenue•XXX
7 2018 2019 2020 2021 2022VOGC Revenue 2,421,811.63 2,428,779.36 2,766,421.65 3,774,302.15 4,066,336.48 Baseline 2,400,000.00 2,454,960.00 2,488,320.00 2,663,498.00 2,835,294.00 Difference 21,811.63 (26,180.64) 278,101.65 1,110,804.15 1,231,042.48 % Rent (15% of Difference) 3,271.74$ -$ 41,715.25$ 166,620.66$ 184,656.43$ Prior Year Baseline 2,400,000.00 2,454,960.00 2,488,320.00 2,663,498.00 CPI Rate2.3%1.36% 7.0% 6.45%New Baseline 2,454,960.00 2,488,320.00 2,663,498.00 2,835,294.00 CPI Baseline Increase 54,960.00 33,360.00 175,178.00 171,796.00 Base Rent 90,000.00 90,000.00 90,000.00 90,000.00 90,000.00 % Rent 3,271.74 - 41,715.25 166,620.66 184,656.43 Total City Revenue 93,271.74$ 90,000.00$ 131,715.25$ 256,620.66$ 274,656.43$
City Revenue
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